Belle International block trade

CDH trims stake in Belle with $131 million block trade

The deal draws strong demand and is upsized by 40% to price at the top of the range for a 4.1% discount, even though the share price has gained 13.9% this week.
<div style="text-align: left;">
CDH has trimmed its stake in Belle International to 1.8%
</div>
<div style="text-align: left;"> CDH has trimmed its stake in Belle International to 1.8% </div>

Private equity fund CDH Retail yesterday sold close to one-third of its remaining stake in Hong Kong-listed Belle International Holdings, taking advantage of a massive share price gain this week. Coming on a day when Asian markets rallied strongly, the block attracted strong demand, which prompted the bookrunners to close the order books after just 30 minutes.

The deal was priced at the top of the indicated range for a 4.1% discount to the latest close and a total deal size of HK$1.02 billion $131 million.

An upsize option of 20 million shares was also exercised in full, which increased the base offering by 40%...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222